Environmental data analytic startup, Databourg has announced the successful closure of its $1M seed financing round boosted by investments from Asian Development Bank Ventures.
Databourg
Environmental data analytic startup, Databourg has announced the successful closure of its $1M seed financing round boosted by investments from Asian Development Bank (ADB) Ventures, and a received R&D grant.
Utilising satellite signals from tens of thousands of existing satellite terminals, Databourg’s technology provides real-time weather monitoring that is scalable and cost-effective. The company’s innovative technology is based on repurposing existing telecom infrastructure for weather monitoring by leveraging AI using its proprietary algorithms and earth observation data.
The use of existing infrastructure and transforming them to weather sensors at an affordable price will have a profound impact on developing Asia.” Jieying Shi, ADB Ventures Investment Specialist
He adds: “We are proud to be part of Databourg's journey from the very beginning and look forward to them becoming an important regional player in the coming years.”
Asia is a region profoundly affected by climate change, with millions of livelihoods at risk due to severe flooding, drought, and storm surges. Despite this, the area lacks a comprehensive weather monitoring infrastructure, essential for early warnings and effective risk management against extreme weather events and climate change impacts. Recognising this gap, Databourg is on its mission to prioritize its growth in Asia.
Joining hands with ADB Ventures is truly thrilling for us. This partnership empowers us to strengthen our commitment to help vulnerable regions and communities become more resilient to climate change.” Dr. Ahmad Gharanjik, CEO and founder of Databourg
He commented: “Thanks to ADB's vast presence and influence in Asia, we see a unique chance to expand our operations in this crucial region.”
Databourg's weather monitoring system is currently up and running in the Philippines. With this investment, the company plans to extend its operation to Indonesia and Sri Lanka by Q1 2024.
